First Business News Portal in English from Nepal
KATHMANDU: Profits of banks and financial institutions (BFIs) have increased by 19.29 percent in the first 11 months of the current fiscal year.
As of July last year, the profit of BFIs was Rs 58.92 billion. The profit has reached Rs 70.28 billion by June this year , as to Nepal Rastra Bank (NRB). Profit of commercial banks has increased by 14.74 percent, development banks by 58.04 percent and finance companies by 148.70 percent till June this year.
Commercial banks had earned a profit of Rs 54.35 billion as of July last year. By June this year, their earnings has increased by Rs 8.1 billion to Rs 62.36 billion.
Similarly, the development banks had earned a profit of Rs 3.80 billion as of July last year while their profit has reached Rs 6.01 billion till June this year.
Meanwhile, finance companies had earned a profit of Rs 770 million till July last year. As of June this year, their profit has increased by Rs 1.145 billion to Rs 1.91 billion, as per NRB.
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